FACTORY CEO JUST ACCUSED HIS VC BOARD ADVISER OF SPYING FOR COGNITION

Summary from the TLDR AI newsletter

Factory has fired VC Chris Degnan from his role as a board advisor due to allegations that Degnan shared confidential information with Cognition, Factory's biggest competitor. Degnan joined Cognition as its chief revenue officer two hours after the announcement. He refutes that he was fired and said that he resigned when he told Factory's CEO he was taking the job. There could be consequences for perceived board-level conflicts of interest.